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Hard Money loans are home mortgage loans offered by private investors rather than financial institutions. |
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Hard money loans are based on equity with in property rather than on the credit or income of the borrower. These loans usually require 25-50% equity in the property of collateral in another piece of real estate. |
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Hard money loans serve as a short term source of financing for borrowers who can't qualify for conventional mortgage financing. |
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These borrowers usually have bad credit, insufficient income, behind their mortgage payments or are facing foreclosure. |
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The interest rate charged or hard money loan is typically much higher than with traditional financing because the borrowers are considered to pose a higher risk to lender. They are designed to provide a temporary solution and are a great for someone who simply can’t obtain other financing. |
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Funding for hard money loans are very fast because there are no underwriting delays or waiting for mortgage approvals from the traditional institutional lenders. |
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1-800-266-2109
HardMoney2Go.com
28570 Marguerite Parkway, Ste. 219
Mission Viejo, CA 92692 |
